Model on the catwalk Dior Cruise Collection 2018 show, Runway, Los Angeles, USA - 11 May 2017

PARIS — The offer by French billionaire Bernard Arnault’s family holding for the outstanding shares it does not already own in Christian Dior will begin Thursday and close on June 28, French stock market regular AMF said on Wednesday.

Under the terms of the offer, revealed on April 25, Christian Dior Couture will be acquired by LVMH Moët Hennessy Louis Vuitton for 6.5 billion euros, or $7.31 billion.

The move will make Dior the second-largest brand in LVMH’s fashion division, behind Louis Vuitton and ahead of Fendi, reuniting its fashion and fragrance activities under a single umbrella.

RELATED STORY: Investors Cheer LVMH’s Offer to Buy Christian Dior Couture >>

Also on April 25, Semyrhamis, the investment firm controlled by the Arnault family, made an offer of up to 12.1 billion euros, or $13.6 billion, for the 25.7 percent stake in the Christian Dior Group that it did not own, using its remaining stake in rival Hermès International as partial payment.

Presently, the Christian Dior Group includes Christian Dior Couture and LVMH. Christian Dior Couture encompasses the brand’s apparel, accessories and jewelry business, while Dior’s perfume and cosmetics lines are exercised under the umbrella of LVMH.

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